Technology South America Exclusives

Analyst: Petrobras’ Divestment Plan Is Attractive But Challenging

The Brazilian major’s business and management plan focuses on financial planning and the pursuit of profitability as the company continues working to reduce its debt.

The project involves determining which parameters and information are vital for FPSO integrity assessment to define a standard for data acquisition and treatment at fields.

Rio Oil & Gas, Brazil, Campos Basin, natural gas, energy transition, Petrobras, Luiz de Abreu Neto, presidential election, International Gas Union, Luis Bertrán, Glenda Rangel, Brazil’s Ministry of Mines and Energy (MME) Secretary of Petroleum, Natural Ga

The future of the Campos Basin, growing importance of natural gas in the energy transition and concerns about Brazil’s upcoming presidential elections were hot topics during a recent oil and gas conference.

Brazil’s Presalt Oil Auction Achieved 100% Of Blocks Acquired

Brazil’s 5th presalt production sharing round, held 10 days before the country’s upcoming presidential elections which outcome is unpredictable, attracted several oil majors.

Peregrino, Brazil, offshore, Equinor, presalt, Tim Dodson

Hart Energy spoke to Tim Dodson, executive vice president of exploration for Equinor, during the recent ONS2018 conference about the growing importance of Brazil to the company’s exploration portfolio.

Contracts South America

The oil services companies are expected to compete in the tender by promising to boost production from the Potiguar Basin’s waning Canto do Amaro Field in northern Brazil, where production began in 1986, and offering a bigger share of output to Petrobras, sources said in June.

Petrobras has awarded Aker Solutions a contract, on Sept. 18, to provide maintenance and modifications services for nine platforms at oil and gas fields in the Campos Basin offshore Brazil.

Petrobras said Vantage Drilling's arbitration proceedings against the company relates to a contract that was canceled as part of "Car Wash."

The contract value—which is not revealed—includes mobilization and demobilization.

This contract for subsea services covers components for both the subsea equipment and flexible pipelines.

Digital South America

Siemens, digital, technology, Elgonda La Grange, Topsides 4.0, digital twin, offshore, Brazil, Siemens Forum 201

The technology’s digital twin is built in parallel to the physical topsides asset during the design and build phases of a project, an executive said.

Siemens, Brazil, Claudio Makarovsky

Digitalization was among the topics discussed at the forum, which also focused on issues such as collaboration and ways to boost energy transition talks without leaving the oil and gas industry behind.

digital technology, oil and gas, subsea, Petrobras, Aker, Brazil

Executives from oil and gas, supply and technology companies met in Rio de Janeiro to discuss the latest oil and gas technology trends.

Equipment South America

According to the Brazilian major, the company’s PLSV fleet might have 16 vessels by year-end, two less than what were under contract in 2017.

With the necessity of the development of ultradeepwater projects located in the presalt layer, many FPSO unit building companies eye Brazil as a good opportunity to ensure new contracts.

Libra, a giant oil field located in Brazil’s presalt area, will boost many business opportunities over the next years.

Four years after Total and its partners paid 622 million reais (US$196 million) for five exploration blocks, they are still waiting for the go-ahead from Brazil's environmental regulator, Ibama.

Saipem’s flagship vessels FDS2 and the Normand Maximus will carry out the work, which will begin in 2019.

Operations South America

Ecuador’s President Lenin Moreno on Jan. 3 asked the country’s prosecutor to probe $4.9 billion of oil-related infrastructure projects, alleging that the OPEC nation’s money was looted during the decade-long tenure of his leftist predecessor.

A century-long border dispute with Venezuela has heated up in recent years as Exxon Mobil has discovered more than 5 billion barrels of oil and gas off Guyana's shores.

The decision suspended an agreement between the company and the Brazilian government that helped shield the company from liability as it seeks to dispose of some $27 billion in assets in order to raise cash to pay its debts.

Brazil's incoming far-right government on Nov. 19 tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA, amid a debate over privatization of the company's assets.

Brazil’s state-controlled oil company Petroleo Brasileiro SA (NYSE: PBR) reported a surge in third-quarter net profit, helped by a pick-up in oil prices and the weakening of the real currency, the company said on Nov. 6.

People South America

Brazilian President-elect Jair Bolsonaro, a former army captain, tweeted the appointment of the first Navy official to his cabinet, Bento Costa Lima Leite de Albuquerque Junior, who heads the Navy's nuclear and technology development program.

Venezuela is tapping at least five new top executives to state oil company PDVSA, six sources said on Oct. 17, but the changes are unlikely to halt the unraveling of the OPEC member's oil industry under military management.

Ecopetrol said production at wells had not been affected, though 19 drilling rigs had been halted.

In August, Conoco suspended legal attachments efforts that had cut Venezuela’s oil exports from several Caribbean facilities following a deal that allowed the country 90 days to make an initial $500 million payment.

Brazil oil and gas workers, oil jobs, offshore oil and gas, E&P

The E&P sector is among the areas expected to see a hiring boost with 44 offshore production systems scheduled to start operating in Brazil by 2030, a study shows.

Regulations South America

Ibama said it had given Total all possible opportunities to correct problems found during the technical evaluation and that the company had been informed of the decision earlier on Dec. 7.

ConocoPhillips received $345 million in cash and commodities last quarter from Venezuelan state oil firm PDVSA as part of a first installment under a settlement to satisfy a $2 billion arbitration award.

The state oil company was the initial epicenter of that probe, which found evidence that political appointees on its board and elsewhere handed overpriced contracts to engineering firms in return for illicit party funding and bribes.

Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Sept. 24.

A Brazilian auction of rights to develop additional oil-producing areas in the country’s so-called transfer-of-rights region is unlikely this year, Brazil’s Deputy Mining and Energy Minister Marcio Felix said on Aug. 21.